Colony Capital sells stake in RXR Realty

The 27 percent share of Scott Rechler’s firm was sold to Dyal Capital Partners

New York /
Feb.February 26, 2020 10:50 AM
Colony Capital's Tom Barrack and RXR Realty's Scott Rechler (Credit: Getty Images)

Colony Capital’s Tom Barrack and RXR Realty’s Scott Rechler (Credit: Getty Images)

Colony Capital has offloaded its stake in New York real estate firm RXR Realty for an undisclosed sum.

The investment platform, led by Tom Barrack, sold the 27.2 percent stake to Dyal Capital Partners, Bloomberg reported. The value of the deal with Dyal, which reportedly has closed, is unknown, though a source told Bloomberg that Colony made a profit.

Colony last valued the stake at $100.3 million in March. It inherited the stake when it merged with NorthStar Realty Finance Corp. in 2017.

Under Barrack, who is expected to step down next year amid pressure from investors, Colony has pivoted its portfolio to digital real estate assets, including data centers. Last year, it sold its U.S. warehouse portfolio to European affiliate Northstar Realty Europe Corp.

RXR, led by CEO and chairman Scott Rechler, has overseen a flurry of deals in recent months, including leasing a warehouse in Maspeth, Queens, to Amazon. It is also developing the JetBlue terminal at John F. Kennedy airport. [Bloomberg] — David Jeans


Related Articles

arrow_forward_ios
From left: RFR Holdings' Aby Rosen and Blue Owl Capital's Doug Ostrover along with 3 World Trade Center (left), the Seagram building (middle) and 340 Madison Avenue (right) (Getty Images, Blue Owl Capital, Beyond My Ken, CC BY-SA 4.0 - via Wikimedia Commons)
Trio of office leases boost hopes at Class A buildings
Trio of office leases boost hopes at Class A buildings
RXR's Scott Rechler and SL Green's Marc Holliday with 5 Times Square (Getty Images, SL Green, 5 Times Square)
RXR lands $1.3B financing for 5 Times Square; SL Green in as partner
RXR lands $1.3B financing for 5 Times Square; SL Green in as partner
360 Huguenot, RXR's Scott Rechler and Hudson Meridian’s William Cote (RXR, Getty, Hudson Meridian)
RXR sues construction manager, alleging shoddy work in New Rochelle
RXR sues construction manager, alleging shoddy work in New Rochelle
RXR Realty’s Scott Rechler and 75 Rockefeller Plaza (Illustration by Kevin Cifuentes for The Real Deal with Getty Images, dconvertini/CC BY-SA 2.0/via Wikimedia Commons)
RXR lands $260 million refi for 75 Rockefeller Plaza
RXR lands $260 million refi for 75 Rockefeller Plaza
RXR CEO Scott Rechler and 620 Sixth Avenue (Photo Illustration by Steven Dilakian for The Real Deal with Getty Images, Beyond My Ken, CC BY-SA 4.0 - via Wikimedia Commons)
RXR sues insurers over infectious disease coverage
RXR sues insurers over infectious disease coverage
1330 Sixth Avenue, Empire Capital Holdings' Josh Rahmani and RXR's Scott Rechler (Google Maps, Empire Capital Holdings, Getty)
RXR, Blackstone selling 1330 Sixth Avenue for $325M
RXR, Blackstone selling 1330 Sixth Avenue for $325M
RXR’s Scott Rechler and 1330 Sixth Avenue (Getty, RXR)
RXR, Blackstone move to sell 1330 Sixth Avenue
RXR, Blackstone move to sell 1330 Sixth Avenue
From left: Scott Rechler and 5 Times Square; Marc Holliday, Steven Roth and 280 Park Avenue (Getty Images, Eden, Janine and Jim from New York City - via Wikimedia Commons)
Swell of maturing debt pressures office owners
Swell of maturing debt pressures office owners
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...